This document provides direction and focus for the third and last phase of the period covered by the Medium-Term Strategy for 2002-2007 (31 C/4 Approved). Hence it has been designed to cast UNESCO's action in response to the strategic objectives, cross-cutting themes and expected outcomes of document 31 C/4, building upon the achievements, results, evaluations and strategic reviews, especially with respect to Education for All, since 2002 as well as to tackle tasks that are unaddressed. The Programme and Budget of the Organisation is a consolidated document outlining those funds which are appropriated by the General Conference of UNESCO and which are financed by contributions assessed on Member States and by Miscellaneous Income (if available), as distinct from the budget financed from extrabudgetary resources, e.g. voluntary contributions. The General Conference of UNESCO approves a new Programme and Budget for the Organization every two years. It has a clear and direct relationship with the Organization's Medium-Term Strategy which lasts for a six-year period and integrates all the various programme- and budget-relevant action taken by the General Conference. The current Programme and Budget heralds a new phase in UNESCO's activities, if not its history: it represents, with an amount of US $610 million, a real-growth budget for the first time since the zero-nominal growth approaches of several past biennia; and it coincides with a giant step towards the restoration of universality in membership by welcoming Timor-Leste and the United States of America among the Organization's members. UNESCO's Programme and Budget is elaborated by the Bureau of Strategic Planning, in collaboration with the the Bureau of the Budget and the Organization's various Sectors and in consultation with all Member States of UNESCO. It is approved during the meeting of the Organization's highest Governing Body, the General Conference.